DELISO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DELISO
Largest movements
- Stocks and contracts -€1.1m
down €1.1m (-16.4%), from €6.8m to €5.7m
- Receivables within one year -€1.0m
down €1.0m (-94.1%), from €1.1m to €63,752
of which Trade receivables: -€884,334
- Tangible fixed assets -€191,568
down €191,568 (-26.5%), from €723,452 to €531,884
of which Furniture and vehicles: -€156,311
- Debts after one year -€2.2m
down €2.2m (-33.4%), from €6.5m to €4.3m
of which Financial debts: -€2.4m
- Tax, wage and social debts -€111,764
down €111,764 (-43.7%), from €255,947 to €144,183
of which Taxes: -€112,080
- Gross operating margin -€168,632
down €168,632 (-16.8%), from €1.0m to €836,400
- Financial charges -€156,485
down €156,485 (-40.7%), from €384,266 to €227,781
- Depreciation +€21,355
up €21,355 (+11.2%), from €190,210 to €211,565
- Staff costs -€10,519
down €10,519 (-2.6%), from €403,813 to €393,294
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,842,081 | €6,524,413 | -€2.3m | -26.2% |
| Fixed assets | 21/28 | €779,181 | €586,950 | -€192,230 | -24.7% |
| Intangible fixed assets | 21 | €24,238 | €19,541 | -€4,698 | -19.4% |
| Tangible fixed assets | 22/27 | €723,452 | €531,884 | -€191,568 | -26.5% |
| Plant, machinery and equipment | 23 | €88,856 | €53,598 | -€35,257 | -39.7% |
| Furniture and vehicles | 24 | €634,597 | €478,286 | -€156,311 | -24.6% |
| Financial fixed assets | 28 | €31,490 | €35,525 | +€4,035 | +12.8% |
| Current assets | 29/58 | €8,062,901 | €5,937,463 | -€2.1m | -26.4% |
| Stocks and contracts in progress | 3 | €6,819,634 | €5,701,188 | -€1.1m | -16.4% |
| Stocks | 30/36 | €6,819,634 | €5,701,188 | -€1.1m | -16.4% |
| Amounts receivable within one year | 40/41 | €1,083,926 | €63,752 | -€1.0m | -94.1% |
| Trade receivables | 40 | €948,086 | €63,752 | -€884,334 | -93.3% |
| Other amounts receivable | 41 | €135,840 | - | -€135,840 | |
| Cash at bank and in hand | 54/58 | €133,531 | €150,020 | +€16,489 | +12.3% |
| Deferred charges and accrued income | 490/1 | €25,809 | €22,503 | -€3,306 | -12.8% |
| Total equity and liabilities | 10/49 | €8,842,081 | €6,524,413 | -€2.3m | -26.2% |
| Equity | 10/15 | €1,560,223 | €1,560,486 | +€263 | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,554,023 | €1,554,286 | +€263 | 0.0% |
| Distributable reserves | 133 | €1,554,023 | €1,554,286 | +€263 | 0.0% |
| Amounts payable | 17/49 | €7,281,859 | €4,963,928 | -€2.3m | -31.8% |
| Amounts payable after more than one year | 17 | €6,525,943 | €4,348,637 | -€2.2m | -33.4% |
| Financial debts | 170/4 | €4,387,057 | €2,034,741 | -€2.4m | -53.6% |
| Other amounts payable | 178/9 | €2,138,885 | €2,313,895 | +€175,010 | +8.2% |
| Amounts payable within one year | 42/48 | €724,753 | €595,002 | -€129,751 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €153,825 | €154,470 | +€645 | +0.4% |
| Financial debts | 43 | - | €1,539 | +€1,539 | |
| Other loans | 439 | - | €1,539 | +€1,539 | |
| Trade debts | 44 | €218,882 | €176,257 | -€42,625 | -19.5% |
| Suppliers | 440/4 | €218,882 | €176,257 | -€42,625 | -19.5% |
| Taxes, remuneration and social security | 45 | €255,947 | €144,183 | -€111,764 | -43.7% |
| Taxes | 450/3 | €234,767 | €122,688 | -€112,080 | -47.7% |
| Remuneration and social security | 454/9 | €21,180 | €21,495 | +€316 | +1.5% |
| Other amounts payable | 47/48 | €96,099 | €118,554 | +€22,455 | +23.4% |
| Accrued charges and deferred income | 492/3 | €31,163 | €20,289 | -€10,874 | -34.9% |
| Non-recurring operating income | 76A | €27,032 | €413 | -€26,619 | -98.5% |
| Remuneration, social security and pensions | 62 | €403,813 | €393,294 | -€10,519 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,210 | €211,565 | +€21,355 | +11.2% |
| Other operating charges | 640/8 | €6,962 | €11,331 | +€4,369 | +62.7% |
| Gross operating margin | 9900 | €1,005,032 | €836,400 | -€168,632 | -16.8% |
| Operating profit (loss) | 9901 | €404,048 | €220,210 | -€183,837 | -45.5% |
| Financial income | 75/76B | €1,557 | €8,025 | +€6,468 | +415% |
| Recurring financial income | 75 | €1,557 | €8,025 | +€6,468 | +415% |
| Financial charges | 65/66B | €384,266 | €227,781 | -€156,485 | -40.7% |
| Recurring financial charges | 65 | €384,266 | €227,781 | -€156,485 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €21,339 | €454 | -€20,885 | -97.9% |
| Income taxes | 67/77 | €190 | €191 | +€1 | +0.7% |
| Profit (loss) for the period | 9904 | €21,149 | €263 | -€20,886 | -98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,149 | €263 | -€20,886 | -98.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.